India’s Inflation is said to be rising the same way like SENSEX was a year ago 🙂 The wholesale price index [WPI] based inflation for the week ended May 31 rose to 8.75 per cent as compared to 8.24 per cent for the previous week. Inflation rate stood at 5.09 per cent for the corresponding week in the previous year.
During the week, in index for the primary articles group rose by 0.9 per cent while the index for manufactured products increased by 0.7 per cent. The index for the fuel group remained unchanged. [So more to come next week, taking into account the rise in fuel & gas prices] Among the food items, prices of egg, condiments and spices, urad, fruit and vegetable, mustard oil have increased.
Government has also revised inflation rate for the week ended April 5 to 7.71 per cent as compared to 7.14 per cent reported earlier. [What the fu*k ? Revision in retrospect ? It can happen only in India 😉 ]
Analysts were of the opinion that Inflation will soon kiss the double-digit mark 🙂